Well Iwata has once again refused to fire employee’s in Nintendo’s current bad situation which is great (unless it was the admins of miiverse lol) and has taken a 50% cut on his pay for the next 5 months, note that E3 is in 5 months, so I think its safe to say Iwata is really counting on E3 to catapult Nintendo back into working order. And it better. A complete fail at E3 would be even more disastrous for Nintendo. Miyamoto is taking a 30% pay cut and other higher ups are taking a 20% pay cut. Anyway read below,

Nintendo’s president Satoru Iwata has revealed that he will take a voluntary 50 per cent pay cut – for the next five months – following a press conference discussing its Q3 financial results. The president also announced today that two of the company’s directors – including famed video game designer Shigeru Miyamoto – will take a 30 per cent pay cut. Other board members will also have their salaries reduced by 20 per cent.

Earlier this month, the video gaming giant slashed its initial forecast sales for the Wii U and 3DS, admitting that it had a lower-than-expected outlook for its third quarterly financial results. Today, Nintendo has posted a loss of operating income equalling 1,578 million Yen ($15.3 million / £9.2 million / €11.2 million) and projects a future operating loss of up to 35 billion yen for its final financial quarter of the year. Our full report on Nintendo’s Q3 financial results will be published later today.